NIKE Bumps Up Quarterly Dividend by 11%


NIKE, Inc. (NKE) has raised its quarterly cash dividend by 11% to $0.305 per share on its Class A and Class B common stock. Markedly, this is the 20th consecutive year of an increase in the company’s dividend.

NIKE announced that the new dividend will be paid on December 28 to shareholders of record as of December 6.

The company’s annual dividend of $1.22 per share now reflects a dividend yield of 0.71%. (See NIKE stock charts on TipRanks)

The CEO of NIKE, John Donahoe, said, “NIKE continues to fuel growth through our Consumer Direct Acceleration strategy, while generating strong cash flow and increasing returns to shareholders.”

Earnings Date

NIKE will report its earnings for the second quarter of Fiscal Year 2022 on December 20 after the markets close.

Wall Street’s Take 

On October 7, Bank of America Securities analyst Lorraine Hutchinson reiterated a Hold rating and a price target of $160 (6.62% downside potential) on the stock. Hutchinson said better visibility on China was needed to become more positive on the stock.

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Consensus among analysts is a Strong Buy based on 17 Buys and 3 Holds. The average NIKE price target of $181.53 implies 6% upside potential. Shares have increased 29.9% over the past year.

Website Traffic

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into NIKE’s performance.

According to the tool, NIKE’s website recorded a 34.02% monthly decline, year-over-year, in global visits in October. Moreover, fiscal Q2 (September to October) depicted a quarter-to-date decline in 2021 of 25.29% more than quarter-to-date growth a year ago.

Additionally, year-to-date website growth, compared to year-to-date website growth in the previous year, came in at a decline of 3.28%.

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